Exploring Financial Accounting Concepts and Practices

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Exploring Financial Accounting Concepts and Practices

Table of Contents

1. Executive Summary…………………………………………………………………….2

2.1 Accrual Accounting……………………………………………………………………2

2.2 Going Concern…………………………………………………………………………3

3. Key Accounting Concepts and Conventions…………………………………………..4

4. Marks & Spencer’s treatment of PPE, Intangible assets and provisions……………5

5. Impact of Impairment on Marks & Spencer’s Finance Performance………………6

6. References………………………………………………………………………………..7

1. Executive Summary

This report includes some of the basic principles and conventions that must be adhered to while preparing the financial statements. It includes analysis and evaluation of some of the accounting practices and conventions. This report also analyses and evaluates some of the accounting practices in Marks & Spencer Plc.